Keepz Becomes First Non-Banking Financial Institution to Engage in Open Banking

Keepz has made history by becoming the first non-banking financial institution in Georgia to participate in open banking. At a joint event hosted by the National Bank of Georgia, the Banking Association of Georgia, and Keepz, the first live transfer using open banking was successfully completed.

Varlam Ebanoidze, head of the National Bank's Financial and Supervisory Technology Development Department, noted that Keepz's pioneering role in open banking will inspire other fintech companies. He highlighted the positive impact this will have on innovation, competition, and financial inclusion in Georgia.

"Keepz is the first non-bank financial institution to engage in open banking and the first fintech to incorporate it into its business model for payment initiation. This will help reduce costs and cut out intermediaries compared to traditional payment methods," said Ebanoidze.

The event also emphasized the benefits of open banking, with participants from the Business and Fintech Association, startups, and other interested parties in attendance.